Advantages of Operating as a Sole Proprietor Are

question 8

Multiple Choice

Advantages of operating as a sole proprietor are:

• A)total control by the owner over all decisions.
• B)low start-up costs.
• C)limited liability.
• D)Both A and B.

---

Definitions:

Preferences

In economics, the individual tastes and desires that dictate the choice of consumption or the selection of goods and services.

Utility Function

An economic tool that measures the preference level of consumers for different combinations of goods and services.

Private Consumptions

Private consumption refers to the spending on goods and services by individuals and households in an economy, excluding government expenditure.

Private Consumptions

The spending by households on goods and services, excluding purchases of new housing but including healthcare, education, and entertainment.